“The prior plan provided for the sale of assets of the debtors and a non-debtor affiliate, a discharge of the debtors, and the reorganization of any unsold assets for the benefit of the claim holders,” said Harrington, a Department of Justice official with responsibility for bankruptcy cases. “The liquidating plan provides for the liquidation of all three debtors … the debtors have substantially and materially modified the sale plan.”
Source: https://www.coindesk.com/policy/2023/11/02/genesis-new-liquidation-plan-is-a-material-swerve-us-government-says/?utm_medium=referral&utm_source=rss&utm_campaign=headlines